Live cattle futures are down $1.50 following lower than expected cash trade. Basis at the moment is still positive at $16. Feeder cattle futures are $2.62 lower. The CME feeder cattle index was down 72 cents on May 10 at $137.21. Wholesale boxed beef values are higher this morning. Choice boxes were up 55 cents at $231.52, with Select boxes 96 cents higher at $209.65.